Transporters and Commuters in Nigeria are set to be relieved as petrol will now sell for N740 per litre from Tuesday, December 16, 2025.
This implies that all filling stations operated by MRS are expected to sell PMS at prices not exceeding N740 per litre, starting in Lagos.
The breakthrough is a strategic effort of Dangote Refinery, intended to alleviate the plight of Nigerians and make the festive period more joyful.
Dangote Group is a multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the continent.
The Chairman of Dangote Group, Aliko Dangote disclosed on Sunday that the pump price of petrol would fall further, adding that petrol would sell at no more than N740 per litre from Tuesday.
During a press briefing at the refinery complex in Lagos, Dangote assured that the reduction would be effected due to his refinery’s reduction of gantry price to N699 per litre, saying that MRS filling stations would be the first to reflect the new pricing.
Dangote pointed out that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to benefit.
He said: "If you come to the refinery today, you will get PMS at N699 per litre."
Sabotage
Dangote noted that despite sabotage and frustration, the refinery would deploy its Compressed Natural Gas (CNG) trucks soon, just as he expressed readiness to procure additional units beyond the initial 4,000 to sustain affordable pricing nationwide.
Reacting to complaints from importers, Dangote hinted that the refinery was established primarily for the benefit of Nigerians.
"Anyone who chooses to continue importing despite the availability of locally refined products should be prepared to face the consequences," he added.
He stated that products supplied through MRS from the refinery were straight-run fuels, unlike blended products imported from overseas markets.
Dangote said: "Nigerians have a choice to buy better quality fuel at a more affordable price or to buy blended PMS at a higher rate. Importers can continue to lose, so long as Nigerians benefit."
He accused the NMDPRA of misrepresenting the refinery’s capacity by publishing off-take figures rather than actual production levels.
"We have the capacity to meet local demand, and we have sufficient refined products in stock. But to keep prices high, imports are deliberately encouraged. Attempts were made to push the refinery into exporting products only for them to be re-imported into Nigeria at higher prices.
"This refinery is for Nigerians first, and I am not giving up," he added.
Dangote hinted that there are currently discussions with the Securities and Exchange Commission (SEC) to enable Nigerians to purchase shares in naira while receiving dividends in dollars.
Not Profit
He maintained that the refinery was driven more by legacy than profit, adding that he could have invested the 20 billion dollars spent on the refinery elsewhere if his sole desire was for financial gain.
"We want every living Nigerian to have the opportunity to benefit, no matter how small their holding. If the market takes 55 per cent and I retain 45 per cent, I am satisfied," he said.
Dangote stated that the refinery imports an average of 100 million barrels of crude oil annually from the United States, assuring that it will likely rise to 200 million barrels following an expansion caused by insufficient domestic crude supply.
He said that the refinery also sources crude from Ghana and other countries, while exporting jet fuel and gasoline to the United States.
The billionaire businessman pleaded with the government to ensure that crude oil taxes are assessed based on actual transaction values, lamenting that the current system allows under-declaration and revenue losses.
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